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As a result advisers can now secure a lead for just £3 compared with a previous minimum of £23, according to the provider.

Simon Williams, head of business development at Paaleads, said Moneysupermarket was receiving thousands of hits a week from consumers requiring mortgage advice and it had conducted research that revealed six out of 10 consumers were also happy to recommend their adviser.

He said: "With consumer demand remaining strong, we have reviewed our pricing to make sure we strike the right balance between value for our members and the importance of getting help and advice to those consumers who are requesting it."

John Stewart, director of Essex-based PMI IFA, said there would be struggling mortgage advisers who would appreciate the reduction in the price of a lead.

However he said intermediaries should do all they could to generate business through their existing client database.

He said: "The fact the cost has gone down is a good thing for those that want them but why pay for something if you can get it yourself?"